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How do you self insure your car in California?
Is it true you can self insure your car? I don't want to pay for car insurance. I heard you can self insure in California. If so, how do you do it?
Emily Maracle · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Under
Section 16052
of the California Vehicle Code, you can use a DMV-issued self-insurance certificate to prove financial responsibility in California
if you own more than 25 vehicles. If you don't own a fleet of 25+ cars, you have two other alternatives to buying car insurance:
- You can make a $35,000 cash deposit with the California Department of Motor Vehicles, or
- You can purchase a surety bond equal to $35,000.
Buying
California's legally-mandated car insurance
is always the cheapest way to demonstrate financial responsibility in California. Compared to the $35k price tag for a surety bond or cash deposit, a minimum coverage policy in California costs an average of $1,394 per year. View full answer
- Gregory R.
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